Toronto Has the Highest Housing Bubble Risk in the World: Report

Condo towers dot the Toronto skyline as a pedestrian makes his way through the winter landscape on Jan. 28, 2021. Frank Gunn/The Canadian Press

Toronto has the highest housing bubble risk among the world’s major cities, according to a new report.

The Union Bank of Switzerland’s (UBS) report [pdf] ranked Toronto at the top of its list with a “bubble index” of 2.24, followed by Frankfurt at 2.21 and Munich at 1.81.